On a consolidated basis, Bombardier exceeded its 2016 guidance range for EBIT before special items; improved its year-over-year cash performance by $778 million; and delivered approximately 200 basis points of margin improvement at its Transportation, Business Aircraft and Aerostructures segments. With the successful refinancing of $1.4 billion of senior notes in the fourth quarter, the company also successfully completed the de-risking phase of its turnaround plan in 2016, securing the liquidity necessary to fully execute the final two phases of the plan: building earnings and cash flow and de-leveraging its balance sheet. Further highlighting the Company’s progress in the fourth

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